A smart exoskeleton Market is a wearable mechanical device that uses electric motors, levers, hydraulic systems, and simulation software to augment the strength of limbs. These devices are made to look like human limbs, muscles, and joints, allowing users to execute tasks swiftly and effectively. Smart exoskeletons use advanced technology to recognize and track the wearer's movements and provide assistance as needed. Exoskeletons have been used for a number of military and defense applications in the past, but their applications have lately expanded to include medical rehabilitation and movement for paraplegia. Smart exoskeletons can now measure energy use by tracking respiration, due to recent technology breakthroughs. The device adjusts dynamics automatically to help reduce human energy expenditure.
MARKET DYNAMICS- ASIA PACIFIC SMART EXOSKELETON MARKET
Rising technological advancements, as well as rising adoption of human augmentation in the industrial and military sectors, rising demand from the healthcare sector for robotic rehabilitation, and an increase in the number of disabled people, are among the major factors propelling the exoskeleton market forward at a rapid pace. In the forecast period, modernization, the introduction of soft actuators, and increased use of the technology by insurance companies will generate new opportunities for the exoskeleton market. Increase in the number of people with physical disabilities, especially the geriatric population is boosting the asia pacific smart exoskeleton market.
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COVID-19 IMPACT ON ASIA PACIFIC SMART EXOSKELETON MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the Asia Pacific smart exoskeleton market. In addition, complete analysis of changes on the Asia Pacific smart exoskeleton market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Asia Pacific economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
ASIA PACIFIC SMART EXOSKELETON MARKET- SEGMENTAL OVERVIEW
Smart exoskeleton market comprises of different market segments like by type, component, body part, application and country.
ASIA PACIFIC SMART EXOSKELETON MARKET BY TYPE
There are several types of smart exoskeletons on the market, such as soft exoskeletons and rigid exoskeletons. Soft exoskeletons are compliant because they are smaller and lighter than rigid exoskeletons, and they require less energy to operate. Furthermore, because soft exoskeletons lack an external hard frame, they will have problems distributing power from any part of the body to the ground, as well as mounting motors and sensors. The rigid exoskeleton is made up of a series of rigid and resistant components that serve to protect, sense, and support the individual as rigid exoskeleton have high strength and load bearing capacity as well as its ability to offer protection against physical damage.
ASIA PACIFIC SMART EXOSKELETON MARKET BY COMPONENT
By component, the smart exoskeleton market includes key segment of sensor, actuators, power source, and control system. Smart exoskeletons can now measure energy use by tracking respiration, due to recent technology breakthroughs Actuators are an integral part of various types of smart exoskeletons. Passive exoskeletons rely on power sources to augment a person’s movement. Sensors provide necessary feedback to help an exoskeleton stay balanced and on course. The smart exoskeleton control system is to achieve the best control performances stability and safety is other important issues that have to be considered.
ASIA PACIFIC SMART EXOSKELETON MARKET BY BODY PART
By body part the smart exoskeleton is segmented in upper body, lower body, full body. The increasing geriatric population has resulted in an increase in the number of fall-related injuries and similar instances. This is also expected to contribute to the growth of the smart exoskeleton market during the forecast period. The lower body part segment plays a vital role in helping people with lower body disabilities such as spinal cord injuries or lower extremity dysfunction that result in significant temporary or permanent disabilities. The upper body part segment aids in managing the daily living activities of the disabled patient population.
ASIA PACIFIC SMART EXOSKELETON MARKET BY APPLICATION
The smart exoskeleton market finds its application in industrial, healthcare, military. The healthcare segment dominates the market due to rising demand from the healthcare sector. Usage of smart exoskeleton aids in preventing injuries in elderly people and people who are suffering from musculoskeletal injuries and neurological disorders. The healthcare industry segment is anticipated to be the fastest-growing segment during the forecast period as exoskeletons help in enhancing strength and reducing physical strain on the user. The increasing number of geriatric populations will create more demand for exoskeletons in healthcare industry which will propel the growth of smart exoskeleton market in the region.
ASIA PACIFIC SMART EXOSKELETON MARKET BY COUNTRY
The Asia Pacific smart exoskeleton market is studied for the following countries like China, India, Japan and Rest of Asia Pacific among others. The market in Asia Pacific is anticipated to expand at a considerable pace during the forecast period. Increasing adoption of advance technology amongst population and rising adoption of the technology by insurance companies in their plans will further create new opportunities for the exoskeleton market in the forecast period mentioned above. Also, the use of smart exoskeletons has significantly increased for industry purposes especially in the Asia Pacific region this in turn is expected to create lucrative opportunities for the overall growth of market in the forecast period.
ASIA PACIFIC SMART EXOSKELETON MARKET KEY PLAYER
The key players in smart exoskeleton market are ATOUN Inc., Bionik Laboratories Corp. , Cyberdyne, Inc., Ekso Bionics, Honda Motor Co. Ltd., ReWalk Robotics, Rex Bionics Ltd., Sarcos Corp., Technaid. S.L., US Bionics Inc., Wearable Robotics srl, Fourier Intelligence, AXOSUITS SRL, Lockheed Martin Corporation.
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